South Dakota State University Growth Partnership Ltd

Organization Overview

South Dakota State University Growth Partnership Ltd is located in Brookings, SD. The organization was established in 2006. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2020, South Dakota State University Growth Partnership Ltd employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota State University Growth Partnership Ltd is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2020, South Dakota State University Growth Partnership Ltd generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $684.4k during the year ending 12/2020. While expenses have increased by 0.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

TO BUILD AN ECONOMIC BASE OF NEWLY DEVELOPED TECHNOLOGIES AND BUSINESSES WITHIN SOUTH DAKOTA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE SOLE PURPOSE IN CREATING AND DEVELOPING THE RESEARCH PARK IN THE CITY OF BROOKINGS, SOUTH DAKOTA IS TO BENEFIT THE SCIENTIFIC AND EDUCATIONAL PROGRAMS OF SDSU. THIS IS ACCOMPLISHED BY SUPPORTING EFFORTS TO APPLY LEARNING AND RESEARCH TO CREATE ECONOMIC OPPORTUNITIES. THE RESEARCH PARK THROUGH THE BROOKINGS INNOVATION CENTER PROVIDES START-UP BUSINESSES WITH ACCESS TO SEASONED ENTREPRENEURS. THE RESIDENT ENTREPRENEURS INCLUDE ORGANIZATIONS SUCH AS COPYRIGHT AND TRADEMARK ATTORNEYS; A FULL TIME CPA; ANGEL FUNDS; AND ACCESS TO THE SMALL BUSINESS DEVELOPMENT CENTER TO DEVELOP BUSINESS PLANS, MARKETING PLANS AND FINANCIAL PROJECTIONS. THIS PAST YEAR THE BROOKINGS INNOVATION CENTER ASSISTED WITH SEVERAL STUDENT AND FACULTY PROJECTS. THROUGH A COLLABORATIVE EFFORT BETWEEN OUR RESIDENT ENTREPRENEURS, THE BROOKINGS INNOVATION CENTER TEAM ASSISTED IN STARTING 3 NEW COMPANIES IN 2020. THE PARK CAPITAL ANGEL FUND HAS INVESTED $500,000 COLLECTIVELY. THESE COMPANIES COLLECTIVELY HAVE RAISED AN ADDITIONAL $25 MILLION. THESE COMPANIES HAVE CREATED APPROXIMATELY 35 JOBS IN THE STATE, REGION AND NATIONALLY.


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Board, Officers & Key Employees

Name (title)Compensation
Dwaine Chapel
Executive Director
$144,000
Keith Corbett
Vice Chairman
$0
Jay Bender
Chairman
$0
Jim Morgan
Board Member
$0
Dr Barry Dunn
Board Member
$0
Kevin Tetzlaff
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $1,133,077
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,133,077
Total Program Service Revenue$319,808
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,452,885

Grants Recieved

Over the last fiscal year, we have identified 1 grants that South Dakota State University Growth Partnership Ltd has recieved totaling $120,000.

Awarding OrganizationAmount
Brookings Economic Development Corporation

Brookings, SD

PURPOSE: Pass-Through

$120,000
View Grant Recipient Profile

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